SHYN LLP - Accounts to registrar (filleted)

REGISTERED NUMBER: OC448555 (England and Wales)

SHYN LLP

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

6

DESIGNATED MEMBERS:

Y R Patel

S Patel

P Patel

N N Patel

N Patel

B Patel

A Patel

REGISTERED OFFICE:

C/O Cox Costello & Horne

7 St. Johns Road

Harrow

HA1 2EY

REGISTERED NUMBER:

OC448555 (England and Wales)

ACCOUNTANTS:

Cox Costello & Horne

Chartered Accountants and Tax Advisors

7 St John's Road

Harrow

HA1 2EY

FIXED ASSETS

Investment property

4

2,445,000

CURRENT ASSETS

Debtors

-

3,723

Cash at bank

38,918

-

38,918

3,723

CREDITORS

Amounts falling due within one year

5

3,001

3,723

NET CURRENT ASSETS

35,917

-

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS

2,480,917

2,445,000

LOANS AND OTHER DEBTS DUE TO
MEMBERS

6

35,917

-

MEMBERS' OTHER INTERESTS

Capital accounts

2,445,000

2,480,917

2,445,000

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

6

35,917

-

Members' other interests

2,445,000

Amounts due from members

-

(3,723

)

2,480,917

2,441,277

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31 March 2026.

The members acknowledge their responsibilities for:

(a)	ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the LLP as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

The financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Profit ans Loss account has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 14 September 2026 and were signed by:

Y R Patel - Designated member

1.	STATUTORY INFORMATION

SHYN LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

Going concern basis

After making enquiries, the members have a reasonable expectation that the partnership has adequate resources to continue in operational existence for the foreseeable future; taken to be 12 months from signing the financial statements. No material uncertainties that cast significant doubt about the ability of the partnership to continue as a going concern have been identified by the members. The partnership therefore continues to adopt the going concern basis in preparing its financial statements.

Investment property

Investment property consist of residential property held for long-term rental yields or for capital appreciation or both, and not held for the social benefit or for use in the business. Investment property is measured at deemed cost, including related transaction costs, on initial recognition and subsequently at fair value as at the year end, with changes in fair value recognised in profit and loss. Subsequent expenditure is capitalised to the asset's carrying value only when it is probable that future economic benefits associated with the expenditure will flow to the partnership. All other repairs and maintenance costs are expensed when incurred. Fair value is determined by either independent professional third party valuers or members. Depreciation is not provided in respect of the investment property. Fair value of investment property reflects, among other things, rental income from current leases and other assumptions market participants would make when pricing the property under current market conditions.

Financial instruments

a) Debtors

Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

b) Creditors

Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

c) Cash at bank

Cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment. Cash and bank balances are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Partners' share of profits and drawings

Partners are remunerated solely out of the profits of the business. The amount of profit to be distributed to partners is determined by the board after the year-end. Partners usually draw a proportion of their expected profit share in 12 monthly instalments during the year in which the profit is earned, with the balance of their share of allocated profits paid in 12 equal instalments starting in April of the subsequent financial year. All payments are made subject to the cash requirements of the business. As partners draw a proportion of their expected profit share during the year before the profits for the year have been determined, divided and allocated to them, by the year-end their personal current accounts with Shyn LLP are in deficit. The total of these accounts is shown in the balance sheet within ‘Loans and other debts due to members’. Once the profit for the year has been divided and allocated, the partners’ current accounts are in surplus by the amount of their share of the year’s profits not already drawn.

Taxation

Taxation on all partnership profits is solely the personal liability of the individual members. Consequently neither taxation nor related deferred taxation arising in respect of the partnership is accounted for in these financial statements.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was NIL (2025 - NIL).

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2025

and 31 March 2026

2,445,000

NET BOOK VALUE

At 31 March 2026

2,445,000

At 31 March 2025

2,445,000

Investment property is initially recognised at market value in accordance to a beneficial interest transfer agreement between the LLP and transferor(s). Legal title concerning the property and beneficial interest remains with the transferor(s).

At the reporting date, investment property were valued, by referencing property websites, on the tenanted open market basis by the members of the partnership.

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.26

31.3.25

£

Other creditors

3,001

3,723

6.

LOANS AND OTHER DEBTS DUE TO MEMBERS

In the event of a winding up the amounts included in "Loans and amounts owed to members" will rank equally with unsecured creditors.

The following reproduces the text of the report prepared for the members in respect of the LLP's annual unaudited financial statements. In accordance with the Companies Act 2006, the LLP is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Members are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, we have prepared for your approval the financial statements of SHYN LLP for the year ended 31 March 2026 which comprise the Profit ans Loss account, Balance Sheet and the related notes from the LLP's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the members of SHYN LLP, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of SHYN LLP and state those matters that we have agreed to state to the members of SHYN LLP, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than SHYN LLP and its members, as a body, for our work or for this report.

It is your duty to ensure that SHYN LLP has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of SHYN LLP. You consider that SHYN LLP is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of SHYN LLP. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Cox Costello & Horne

Chartered Accountants and Tax Advisors

7 St John's Road

Harrow

HA1 2EY

14 September 2026